January 1, 2008 Mr. Michael Gioffre ING Investment Management Co.
Exhibit 99.B(d)(2)(v)
January 1, 2008
Xx. Xxxxxxx Xxxxxxx
ING Investment Management Co.
00 Xxxxx Xxxxx Xxxxxx
Hartford, CT 06103-3602
Dear Xx. Xxxxxxx:
Pursuant to the Sub-Advisory Agreement dated August 7, 2001, as amended, between ING Investments, LLC and ING Investment Management Co. (the “Agreement”), we hereby modify the fees payable to the Sub-Adviser for ING VP International Value Portfolio (the “Portfolio”).
Upon your acceptance, the Agreement will be modified to give effect to the foregoing by modifying the annual sub-advisory fee for the Portfolio as reflected on the Amended Schedule A of the Agreement, effective January 1, 2008. The Amended Schedule A, with the annual sub-advisory fees indicated for the Portfolio, is attached to the letter.
Please signify your acceptance to the modification of the annual sub-advisory fee for the Portfolio by signing below where indicated.
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Very sincerely, |
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/s/ Xxxx Xxxxx |
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Xxxx Xxxxx |
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Senior Vice President |
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ING Investments, LLC |
ACCEPTED AND AGREED TO:
ING Investment Management Co.
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By: |
/s/ Xxxxxxx X. Xxxxxx |
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Name: |
Xxxxxxx X. Xxxxxx |
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Title: |
EVP, CFO, Duly Authorized |
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0000 X.
Xxxxxxxxxx Xxxxx Xx. |
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Tel:
000-000-0000 |
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ING Investments, LLC |
AMENDED SCHEDULE A
with respect to the
SUB-ADVISER AGREEMENT
between
ING INVESTMENTS, LLC
and
ING INVESTMENT MANAGEMENT CO.
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Fund |
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Annual Investment Management Fee |
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(as a percentage of average daily net assets) |
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ING VP Financial Services Portfolio |
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0.3375% of the first $500
million of assets |
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ING VP High Yield Bond Portfolio |
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0.2610% of the first $200
million of assets |
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ING VP International Value Portfolio |
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0.3825% |
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ING XX XxxXxx Opportunities Portfolio |
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0.3375% on first $250 million |
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ING VP SmallCap Opportunities Portfolio |
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0.3375% of the first $250 million of assets |
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